Not really. So if you're waiting for them to drop, don't hold your breath.

Many have speculated that interest rates drop during an election year to encourage voting for the current president. Research shows otherwise. There is a small correlation between the two. In the past five elections, there has been a slow decline in rates between November and February. These declines have only been slight though.

So, how low can they go? Not much lower. As can be expected from interest rates, they aren’t giving up their secrets for the future. However, mortgage interest rates are still at record breaking lows. When interest rates start to climb, the amount a